A vacant building on East Milwaukee Street in Janesville could soon be home to two new retail spaces, and three apartments.

Janesville Economic Development Director Jimsi Kuborn says the City Council will consider a tax incremental financing agreement for the property at 109 East Milwaukee Street, at their meeting on Monday night.

The terms of the TIF deal include a total of $164,000 in assistance over the course of 15 years in exchange for increasing the value of the property from $196,000 to $700,000.

The property developer is Benjamin Thompson – the Owner and CEO of Big Radio Janesville/Beloit.